ANNOUNCEMENT 15 Aug 2018
The South African government-funded Industrial Development Corporation has announced the approval of a loan to Busmark 2000 (Pty) Ltd.
NUMBER OF INTERVENTIONS
Industrial Development Corporation. Disclosure of IDC Funded Business Partners from 1 April 2018 to 30 September 2018. Available at: https://www.idc.co.za/wp-content/uploads/2018/11/DISCLOSURE-OF-IDC-FUNDED-BUSINESS-PARTNERS-FROM-1-APRIL-2018-30-SEPTEMBER-2018_Final.pdf
Busmark. About. Retrieved on 23/03/2019. Available at: http://www.busmark.co.za/about/
The Industrial Development Corporation (IDC) of South Africa has made public the list of companies financed by this institution during the period encompassed between 1 April 2018 and 30 September 2018.
One of the beneficiaries has been Busmark 2000 (Pty) Ltd., a South African company which on 15 August 2018 has received circa ZAR 232.8 million (over USD 15.9 million at the time of formalization of the credit line).
Busmark 2000 (Pty) Ltd. is a South African company engaged in the manufacturing of buses and management of bus services in the country. Among its main clients, it can be found the SA Government, Unitrans Group and Anglo Platinum Group.
The Industrial Development Corporation (IDC)
A government-funded South African development finance institution that seeks to promote economic growth and industrial development.
To achieve these objectives, the IDC uses different financial instruments such as debt, equity and quasi-equity, guarantees, trade finance and venture capitals, to finance entrepreneurs and companies, helping them to enhance their industrial capabilities.
The funds are limited to ZAR 1 billion and are limited to companies enclosed in the following sectors: agro-processing and agriculture, chemical products and pharmaceuticals, basic and specialty chemicals, clothing and textiles, heavy and light manufacturing, media and audiovisuals, machinery and equipment, tourism, automotive and transport equipment, industrial infrastructure and basic metals and mining.